TOBA TEK SINGH, Jan 9: The trade of new currency notes in the city is continuing unabated.

The State Bank of Pakistan has reportedly ordered replacement of soiled currency notes and provided new notes to banks. But, the bank officials started selling them.

Sources said the SBP ordered banks to separate wornout currency notes and return them to it in exchange for new notes. But, banks paid no heed to the SBP directive and started giving old notes to their customers as new notes ran out of stock.

A shopkeeper told this scribe that he purchased new currency notes of the denominations of Rs5 and Rs10 by paying 20 per cent of the face value of the note. He claimed that the dealers of new currency notes buy them from bank officials at 10 per cent.

He claimed that when he met a bank officer to get new notes, he (officer) told him that even he had to purchase new notes for some of his clients.

Sources said in the year 2001, the SBP had supplied new notes worth Rs20 million to the NBP main branch before Eid. It provided new notes worth Rs6 million on this Eid.

They said the makers of garlands decorated with new notes started the ugly tradition of purchase of currency notes from banks.

Sources said the garland makers purchase new notes in bulk around Eidul Fitr as ‘marriage season’ started soon after Eid. That was the reason that the banks could not give new notes to their customers on Eid.